While the craze for Bitcoin ETFs is still on top, another storm is on the way to shake the cryptocurrency market that is none other than ‘ETNs’. For those who are not familiar with the term, ETNs are like bonds but without regular interest payments. They promise returns based on an asset's performance and are traded on stock exchanges. ETNs track assets like commodities or stocks, allowing investors to gain exposure without direct ownership.

The London Stock Exchange said it will start taking applications for Bitcoin Crypto Exchange-Traded Notes (ETNs) from April 8, 2024. This comes after their announcement on March 11, saying they planned to allow Crypto ETNs to be traded in the second quarter of the year. These changes boosted market confidence and pushed the price of BTC above $70,000 again, a 15% increase from the recent low of $61,000 just a week ago.

As the Bitcoin halving nears, investors are looking out for another bull run. The Exchange plans to start trading Crypto ETNs on May 28, 2024, pending approval from the Financial Conduct Authority (FCA). This decision aims to encourage more issuers to participate on the first trading day and give them enough time to prepare their documents and meet regulations.

To list securities on the Main Market on May 28, issuers must submit the required information to the Exchange by April 15. This includes how they will meet the Crypto ETN fact sheet requirements and a draft of the base prospectus with relevant disclosures.

However, issuers who fail to meet these requirements, submit after April 15, or have their base prospectus unapproved by the FCA by midday on May 22, 2024, won't be eligible for trading on the first day. If you’re planning to profit from this revolutionary decision other than investing in cryptocurrencies, plan to launch a business in this realm. For that, Cryptocurrency Exchange Development would be a great option as it contains a lot of revenue streams.

For More Details: https://www.clarisco.com/cryptocurrency-exchange-development